SBA Offers Relief to Pennsylvania Businesses, Private Nonprofits, and Residents Affected by Severe Storms and Flooding

WASHINGTON -The U.S. Small Business Administration announced the availability of low interest federal disaster loans for Pennsylvania small businesses, private nonprofits, and residents affected by severe storms and flooding occurring July 28. The SBA issued a disaster declaration in response to a request received from Governor Josh Shapiro on Aug. 18.

The declaration covers the Pennsylvania counties of Blair, Cambria, Cameron, Centre, Clearfield, Clinton, Elk, Indiana, and Jefferson, which are eligible for both physical damage loans and Economic Injury Disaster Loans from SBA.

Businesses and private nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

"When disasters strike, SBA's Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover," said Chris Stallings, Associate Administrator of the Office of Disaster Recovery and Resilience at SBA. "At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available."

The SBA's Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, and private nonprofits - including faith-based organizations - impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

EIDLs are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills which could not be paid due to the disaster.

Interest rates are as low as 4% for businesses, 3.625% for private nonprofits, and 3% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA determines eligibility and sets loan amounts and terms based on each applicant's financial condition.

Beginning Monday, Aug. 24, SBA customer service representatives will be on hand at the Disaster Loan Outreach Center in Clearfield County to answer questions about SBA's disaster loan program, explain the application process, and help individuals complete their application. Walk-ins are welcome, and you can schedule an in-person appointment in advance at appointment.sba.gov.

The hours of operation are listed below:

CLEARFIELD COUNTY

Disaster Loan Outreach Center

Glendale Area Vol. Fire department

946 Water St.

Coalport, PA 16627

Opens at 9 a.m. Monday, Aug. 24

Hours: Monday - Friday, 8 a.m. - 5 p.m.

Saturday, 9 a.m. - 2 p.m.

Temporary Closure on Sept. 7 in observance of Labor Day Holiday

Closes permanently at 4 p.m. Wednesday, Sept. 9

To apply online, visit sba.gov/disaster. Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The filing deadline to return applications for physical property damage is Oct. 19. The deadline to return economic injury applications is May 19, 2027.

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About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.